FAQs

About IIMA Endowment Fund General Corpus

The IIMA Endowment Fund General Corpus is a strategic, long-term, flexible source of funds for the Institute. This robust corpus is IIMA’s war chest against any unforeseen shocks and enables the Institute to pursue strategic objectives and plan for continued development. Your donation becomes a vital source of annual operating support, directly contributing to the advancement of IIMA’s core mission and charter.

Yes. The contributions made to the IIMA Endowment Fund General Corpus are exempted from the Income Tax. IMA is a notified u/s 80G(2)(a) (iiif) of the Income Tax Act, 1961. Accordingly, the donors are entitled to a 100% deduction without any limit.
The funds contributed to the IIMA Endowment Fund General Corpus are unencumbered by purposes that may lose relevance over time. The funds contributed to the IIMA Endowment Fund General Corpus are used to fund various activities at IIMA, including Scholarships & Awards, Supporting Faculty research and Research Centres.

For Domestic Donors

(Applicable to Indian Donors holding Indian PAN Cards)

All domestic donors can contribute through Wire Transfer / Credit Card / Debit Card / Cheque / UPI/ Wallet & Cash Card. If you want to pay using Cheque/ Direct Wire Transfer, please pay to IIMA’s Indian Currency account. Details of IIMA’s local currency account are as given below: Savings A/c No: 59100011121961
Account holder: Indian Institute of Management Ahmedabad
Bank Name: HDFC Bank Ltd
Branch Judges Bunglow Road, Ahmedabad
IFSC: HDFC0000048 Savings A/c No: 59100011121961
Account holder: Indian Institute of Management Ahmedabad
Bank Name:
HDFC Bank Ltd
Branch Judges Bunglow Road, Ahmedabad
IFSC: HDFC0000048

Yes. CSR donations are accepted through the IIMA Endowment Fund. Please reach us at endowment@iima.ac.in for further details.a
 
Yes, all donations to the Light the Way Donation drive are 100% Tax deductible. IIMA is a notified u/s 80G(2)(a)(iiif) of the Income Tax Act, 1961. Accordingly, the donors are entitled to a 100% deduction without any limit. For more details, click here
 
We are keeping a record of your donation on this site. We will use this data to validate your donation with our bank. Once your amount is received in our bank account, we will get in touch with you through email/mobile (that you have submitted on this site) to complete your details for issuing the 80G Tax Receipt. Once the receipt is issued, we will mail a copy of the same to your email as well as send a hard copy through the post to the address shared in the donation form.

For Donors in the UK

For donors in the United Kingdom, tax-effective giving to the 2001 batch donation drive is possible via the tax incentives as available under Gift Aid. Donations are also eligible for employer matching programs. To avail of the tax benefits, donations should be sent to IIMA Alumni Association London, which is a registered charity with the UK charities commission # 1117664 & HMRC Tax id: 922/XT3019. Further details on Gift Aid, including the latest tax relief rates, are available at: https://www.gov.uk/donating-to-charity/gift-aid

Funds can be transferred to IIMA Alumni Association UK as below:
Account Number: 76231759
Bank’s Name & Address:
ICICI Bank UK Plc 45 South Road, Southall UB1 1SWA
Bank Sort Code: 30-01-28
Remittance Comments (if provided by bank): ( Contribution to IIMA Endowment Fund )
Taxation details should be run past tax advisors in your local jurisdiction as needed
After the online payment, please inform Ravi Topno (ravi.topno@gmail.com), Aseem Gupta (aseemgupt@gmail.com) and Gaurav Jain (jain123@gmail.com), and a copy to ceo.endowment@iima.ac.in, and dean-aer@iima.ac.in mentioning the purpose of the donation, full- name and mailing address and if possible, a screenshot of the transfer.
 
The receipt will be issued once funds have been received. The UK chapter will be sending out a Gift Aid form, which the donor is requested to complete and send back to the UK Chapter. This will help the charity claim tax incentives from the HMRC. Taxation details should be run past tax advisors in your local jurisdiction as needed.

For Donors in the US

For donors in the USA, donations received are tax deductible as a 501(c)(3) Tax ID No.: 22-3749107 (a charitable or not-for-profit organization).
Funds can be transferred to IIMA Alumni Association USA via a Cheque as described below:

Sr NoField NameDetails
1)Cheque is to be drawn in favour of“IIM-A Alumni Association”
with a covering letter clearly specifying the
purpose of the donation, the full name and the
address of the donor
2)Mailing AddressRitesh Agarwal, 56 Great Oak Dr, Short Hills, NJ
07078.
Email address: connect2ritesh9@gmail.com
Please inform Tejesh Contractor through email tejeshc@yahoo.com with a copy to ceo.endowment@iima.ac.in and dean-aer@iima.ac.in mentioning the purpose of the donation, full name and mailing address If possible, please attach a screenshot of the transfer.
 
The contributions would be to 501 c (3) USA (Tax ID No.: 22-3749107) Charity for tax purposes. A receipt would be sent after your contribution is credited to the bank account. Subsequently, your contributed funds would be transferred to IIMA. Taxation details should be run past tax advisors in your local jurisdiction as needed.

Instructions for NRI's & Foreign Citizens

Only Citizens of Foreign Countries can contribute to the FCRA account. NRI’s cannot contribute to the FCRA account as per RBI guidelines.
 

You can use your credit card, issued abroad, if it has 2 factor authentication, to make a payment using the payment gateway. If not, you can transfer money to IIMA’s account (in INR) using your bank’s netbanking or through cheque, SWIFT, NEFT, RTGS. The details of IIMA’s bank account are given below. If you have an India Pan Card, you will get 100% tax deduction in India. Taxation details should be run past tax advisors in your local jurisdiction as needed.
For NRIs
If you are an NRI, you can make your payment to IIMA’s Indian Currency Account, using your bank’s Net Banking. If you have an Indian PAN card, you qualify for 100% tax deductions in India.
Details of IIMA’s local currency account are as given below:
Savings A/c No: 59100011121961
Account holder: Indian Institute of Management Ahmedabad
Bank Name: HDFC Bank Ltd
Branch: Judges Bungalow Road, Ahmedabad
IFSC: HDFC0000048

You can contribute to IIMA’s FCRA account in your local currency from your bank account through net banking, cheque, SWIFT, NEFT or RTGS. The details of the FCRA account are given below. If you have an Indian PAN card, you will get 100% tax deduction in India.
Yes, you can. You need to transfer to IIMA’s FCRA or local currency account depending on whether you are a citizen or resident of US/UK. However, in that case, you will get tax benefit in India (provided you have an Indian PAN card), not in your country of residence.
 
Details of IIMA’s Foreign Currency Account (FCRA):
Name of the Account Holder: INDIAN INSTITUTE OF MANAGEMENT AHMEDABAD – F.C. ACCOUNT
Account Number: 40069720103
Bank’s Name & Address:
State Bank of India, 11, Sansad Marg, New Delhi 110 001
Branch Code No:691
Swift No.: SBININBB104
MICR Code: 110002087
IFSC Code: SBIN0000691
PAN No. OF IIMA: AAATI1247F
Remittance Comments (if provided by bank):
The foreign inward remittance should invariably contain the following details:
1. FCRA Account number
2. Swift Code
3. Name of the Beneficiary
4. Name of Donor/ remitter
5. Account number of the donor/ remitter
6. Donor/ remitter’s address
7. Donor/ remitter’s Country of Residence
Please inform dean-aer@iima.ac.in and ceo.endowment@iima.ac.in mentioning the purpose of the donation, full name and mailing address and if possible, a screenshot of the transfer.

Gateway Related Queries

Debit cards issued outside India will not work. Credit cards issued outside India having 2-layer authentication will work.
 
No, they cannot.
No, there are no transaction charges.
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